The Colombo bourse yesterday lost ground for the fourth day running this week on a low turnover of Rs.565.5 million, down from the previous day’s Rs.3 billion, with all three indices dipping – the All share by 29.34 points (0.50%), the Milanka by 47.54 points (0.86%) and S&P SL 20 by 12.06 points (0.38%) with 158 losers strongly outpacing 59 gainers while 93 counters closed flat.
LOLC was the day’s most active stock with nearly 2.6 million shares traded between Rs.50.60 and Rs.53.50 closing Rs.2.20 up at Rs.52.90 generating a turnover of Rs.131.3 million.
Brokers however said that most of the trading was below the closing price with the volume weighted average for the counter at Rs.51. They noted that there had been interest in LOLC in the last few days on unconfirmed rumours of a foreign line of credit to the company.
Foreigners remained net buyers although activity was low in line with turnover with purchases at Rs. 92.22 mn., sales at Rs.76.11 mn. And an inflow of Rs. 16.11 mn.
John Keells Stock Brokers said in a market report that “The indices declined for a fourth consecutive day amid low activity levels with trades on banking and finance counters accounting for a majority of the day’s turnover”.
Commercial Bank (voting) was the next biggest turnover generator closing 10 cents up at Rs.114 on nearly 0.3 million shares traded between Rs.112.60 and Rs.114 contributing Rs.30.4 million to the day’s business volumes.
People’s Leasing followed closing 30 cents down at Rs.13.50 on two million shares done between Rs.13.50 and Rs.14 contributing Rs.28.4 million to turnover.
JKH dipped Rs.2.70 to close at Rs.219 on 92,428 shares traded between Rs.218 and Rs.224.90 while NDB closed 50 cents down at Rs.141.50 on slightly over 0.1 million shares done between Rs.140 and Rs.142.50 and Lion closed flat at Rs.245 on 100,000 shares traded at this price.
Low priced stocks that showed volume and were listed among the most traded counters included Asiri closing flat at Rs.11.40 on nearly 1.3 million shares, e-Channelling up 10 cents to close at Rs.6.30 on over 1.6 million shares and Central Investment & Finance down 10 cents to close at Rs.6.60 on nearly 1.5 million shares.
Among the major gainers, HNB (non-voting) closed flat at Rs.114 on nearly 75.6 million shares, Colombo Fort Investments was up Rs.8.10 to close at Rs.120.10 on 16,787 shares, Grain Elevators up Rs.4.10 to close at Rs.64.50 on 26,456 shares and Richard Pieris Exports up Rs.1.60 to close at Rs.32.70 on 17,599 shares.
source - www.island.lk